Austrian company Syn Trac starts building a tractor assembly plant in Ghioroc - Arad County, a 400-plus million euro investment which will create about 600 jobs; the first tractor is due to roll off the line in October 2023.The company announced its plans on Friday, on the occasion of the launch of the Ghioroc industrial park project that will accommodate several international companies.Patrick Monac, the manager of the consortium of companies that will operate in Ghioroc, told a press conference that the future local plant will have an annual capacity of about 400 tractors that will be delivered mainly to Eastern Europe."This year we will open the Syn Trac tractor factory and next October we want the first tractor to roll off the line. Production in Romania will be focused on all Eastern European countries and the Middle East. This year we will also develop the project for the trailer, hydraulic drives and gearbox factory. There will be over a hundred jobs in the first phase, and in four to five years their number will grow to 600. This will be an investment of over 400 million euros, spanning ten hectares. We already have an order for 1,500 tractors, 40 of which are for Romania," said Patrick Monac.The company will cooperate with the 'Aurel Vlaicu' University of Arad on the training of the students who will work in the automotive field and who will be offered scholarships.Syn Trac owner Stefan Putz said that the tractors that will be assembled in Ghioroc will be able to reach a speed of 110 kilometers per hour and incorporate patented technologies."For 30 years now I've been building machines that can be found all over the world. I am also somewhat of an inventor, and I've found something unique for these tractors. For instance, they don't have the engine at the front, like standard machines do, but under the floor, which allows us to make connections with front and rear mechanisms. In 60 seconds they can switch from farming to communal works, forest clearing or other activities," Stefan Putz said.The Ghioroc industrial park will also accommodate a regional drug warehouse and a cannery.Ghioroc mayor Corneliu Popi-Morodan declared that the local authorities are in talks with other investors, while president of the Arad County Council Iustin Cionca remarked that these projects will turn Ghioroc into a new development pole.
Ireland can be seen as one of the most important business hubs in Europe and the European Union, as many international companies have established regional headquarters there. If you are looking for a country to expand your enterprise, you should definitely consider Ireland for several reasons that are presented below. Location and language The first […]
Cyprus is mostly known as a tourist destination. However, there is also a business side to it, as many investors choose it to open companies because of the favorable taxation system. Apart from its low corporate tax rate, there are a few more reasons why you should choose it if you are looking for a […]
The Romanian Commercial Code provides for various types of entities that can be created by natural persons and companies, local or foreign. Each of them has its own particularities, which can give it various advantages. How do you choose among them? We will review the main types of companies and their pros to help you […]
A new alley named after Romanian diplomat Nicolae Titulescu was inaugurated on Tuesday, December 9, in Paris’s Parc Monceau during a ceremony attended by Romania’s president Nicușor Dan and Paris mayor Anne Hidalgo. “I expressed my appreciation for the decision to name an alley in the beautiful Parc Monceau in Paris after the great Romanian […]
Oxygen Resort, a development located in central Romania’s Harghita county, has inaugurated its first bungalows. The first 18 bungalows are already functional, with another 17 units to be completed in the next stage, bringing the total to 35. The inauguration of the bungalows “marks the transition from a center dedicated predominantly to recreational activities to […]
Romania carried out a new medical evacuation mission for civilians from Gaza on Monday, December 8, transporting eight Palestinian patients and 29 accompanying relatives to Bucharest for treatment, according to the Department for Emergency Situations (DSU). The patients were evacuated aboard a Romanian Air Force C-130 Hercules aircraft after lacking access to adequate medical care. […]
